Rushworth, 3612 ranked 654th in VIC when comparing growth in median property values or capital gain over the last 12 months. Rushworth is one of 2099 in our list for VIC
When looking at the potential capital gains offered to property investors over the last 3 years, Rushworth comes in at number 484th in VIC.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Rushworth, 3612. Typically our figures indicate that -5.33% is being offered, which puts this VIC suburb at 2077th most discounted overall in Australia.
Often selling an investment property can take time, and in Rushworth the average time real estate has been on the market is 97.8571 days.
A $240 per week rent on the median house gives suburb investors a gross yield of circa 6.09%, without taking into account capital value appreciation, which has been averaging out at 4.16%.
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Gold rush town enjoys a golden growth period
Median house price: $210,000
Three-year growth: 32.91%
Rental yield: 5.70%
The suburb of Rushworth got its name from its inception during the 1853 gold rush in Victoria. While the rush is long over, the suburb is riding the waves of sustained growth.
Houses are astoundingly affordable at just $210,000 even after a significant price increase of over 12% in the February 2017 quarter alone. The almost 6% average yield is certainly eye-catching for investors, along with the potential shown for long-term growth seeing as the market has not fumbled in five years.
Rushworth is home to a few schools, including a P-12 college and St Mary’s primary school. There’s also a bakery/café. The suburb has much to offer as a tourist spot – there’s the local heritage walk and the Rushworth museum, for example. The Rushworth State Forest is located nearby and is perfect for bushwalking. 8km north of the suburb, Waranga Basin is a popular fishing destination.